Madison Square Garden Sports (NYSE:MSGS) Releases Earnings Results, Beats Estimates By $0.55 EPS

Madison Square Garden Sports (NYSE:MSGS) posted its quarterly earnings results on Friday. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.55, Briefing.com reports. Madison Square Garden Sports had a negative return on equity of 18.69% and a net margin of 5.72%. The business had revenue of $53.31 million during the quarter, compared to the consensus estimate of $43.71 million. During the same quarter in the previous year, the firm earned ($0.79) earnings per share. Madison Square Garden Sports’s revenue for the quarter was up 23.8% compared to the same quarter last year.

Madison Square Garden Sports Stock Performance

Shares of MSGS opened at $220.99 on Monday. Madison Square Garden Sports has a 52-week low of $166.26 and a 52-week high of $227.66. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 75.94 and a beta of 0.92. The business’s fifty day moving average is $211.81 and its 200-day moving average is $198.34.

Insider Buying and Selling

In other Madison Square Garden Sports news, CEO James Lawrence Dolan sold 629 shares of Madison Square Garden Sports stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $209.30, for a total value of $131,649.70. Following the transaction, the chief executive officer now owns 10,192 shares in the company, valued at $2,133,185.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 22.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Macquarie cut their price target on shares of Madison Square Garden Sports from $240.00 to $235.00 and set an “outperform” rating for the company in a report on Friday, August 16th.

About Madison Square Garden Sports

Madison Square Garden Sports Corp. operates as a professional sports company in the United States. The company owns and operates a portfolio of assets that consists of the New York Knickerbockers of the National Basketball Association (NBA) and the New York Rangers of the National Hockey League. Its other professional franchises include development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.